Stocks continue Christmas rally

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    Share prices ended up Monday as investors positioned ahead of a number of developments in the market for the week.

    The Philippine Stock Exchange index (PSEi) was up 35.19 points to 7,281.36, a 0.49 percent hike.

    The broader all shares index was up 19.78 points to 4,338.51, a 0.46 percent hike. Gainers edged losers 134 to 75 with 58 stocks unchanged. Trading turnover reached P8.93 billion.

    The peso closed at 48.05 to the dollar, up from 48.07 on Friday. It opened at 48.10, an intraday low and hit a high of 48.04. Trading turnover reached $358.8 million.

    Luis Limlingan, managing director at Regina Capital Development Corp., said investors “made bets ahead of additional fiscal stimulus, the BSP (Bangko Sentral ng Pilipinas) meeting on Thursday and the continued Christmas rally.”

    Most actively traded SM Prime Holdings Inc. was down P1.15 to P38.05. Metropolitan Bank and Trust Co. was down P0.45 to P51. Security Bank Corp. was up P10.80 to P148.80. Ayala Land Inc. was down P.10 to P41.50. BDO Unibank Inc.. was up P3.40 to P113.50.

    Premier Horizon Alliance Corp. was up P0.07 to P1.05. Dito CME Holdings Corp. was up P0.28 to P7.74. GT Capital Holdings Corp. was down P11 to P644. Bank of the Philippine Islands was down P0.04 to P82. Megaworld Corp. was up P0.13 to P4.12.